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Economy Could Compel  EVE Online  Creators To Leave Iceland
Economy Could Compel EVE Online Creators To Leave Iceland
December 24, 2008 | By David Jenkins

December 24, 2008 | By David Jenkins

Massively multiplayer online developer CCP is considering leaving its home country of Iceland, due to the growing economic crisis which has hit the small island country hard.

One of the first global economics to feel the full effects of the global financial crisis, Iceland’s banking sector is left with debts that have risen to as much as $14 billion - 10 times the country’s GDP.

All three of the country’s major banks have had to be nationalized, with inflation now at 17 percent and unemployment in double digits.

As reported by British newspaper The Guardian, restrictions on access to foreign currency have proven disastrous for EVE Online developer CCP, which also runs offices in Atlanta and Shanghai.

Sci-fi themed massively multiplayer online game EVE Online has 300,000 subscribers worldwide –- as much as the actual population of Iceland.

"To make new games, we need foreign investors," said CCP’s Eyjolfur Gudmundsson. "The present currency restrictions are putting us in a straitjacket. We are in talks with the government, but if we can't let capital in, we might be compelled to leave Iceland, even though this would be against our wishes."

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Seth Burnette
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Well, they already have an office here in Georgia. Maybe Atlanta will see an influx of Icelandic game dev refugees in the coming months.

jake foster
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Best of luck to them. The way I see it, Iceland needs to keep its chickens laying eggs, not butchering them for a cheap meal.

Alan Rimkeit
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Moving = Better than shutting down. :)

Aaron Casillas
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Other Govts are getting involved in the game industry, Canada, Germany and France have, I'm only hoping that the US gets involved ASAP! Perhaps instead of bailing out the US auto industry the GOVT should create new jobs by supporting the Video Game industry!